M&A Deal Summary

Signet Jewelers Acquires Blue Nile

On August 9, 2022, Signet Jewelers acquired e-commerce company Blue Nile from Bain Capital Private Equity and Goldman Sachs Merchant Banking for 360M USD

Acquisition Highlights
  • This is Signet Jewelers’ 1st transaction in the E-Commerce sector.
  • This is Signet Jewelers’ 3rd largest (disclosed) transaction.
  • This is Signet Jewelers’ 6th transaction in the United States.
  • This is Signet Jewelers’ 1st transaction in Washington.

M&A Deal Summary

Date 2022-08-09
Target Blue Nile
Sector E-Commerce
Buyer(s) Signet Jewelers
Sellers(s) Bain Capital Private Equity
Goldman Sachs Merchant Banking
Deal Type Add-on Acquisition
Deal Value 360M USD

Target

Blue Nile

Seattle, Washington, United States
website
Blue Nile is an online retailer of diamonds and fine jewelry. Blue Nile offers a customer experience that includes education, guidance, selection, customization capability, convenience and value. Blue Nile, Inc. was formed in 1999 and is headquartered in Seattle, Washington.

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Buyer(S) 1

Buyer

Signet Jewelers

Hamilton, Bermuda

website


Category Company
Sector Retail
Employees30,856
Revenue 7.8B USD (2022)
DESCRIPTION

Signet Jewelers is engaged in the retail sale of jewelry and watches in the United States, the United Kingdom, the Republic of Ireland, and the Channel Islands. Signet Jewelers is based in Hamilton, Bermuda.


DEAL STATS #
Overall 7 of 7
Sector (E-Commerce) 1 of 1
Type (Add-on Acquisition) 6 of 6
State (Washington) 1 of 1
Country (United States) 6 of 6
Year (2022) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Diamonds Direct

Charlotte, North Carolina, United States

Diamonds Direct offers loose and mounted diamonds, a multitude of engagement ring mountings by designers, diamond and gemstone fashion jewelry, wedding bands, pearls, and much more. Diamonds Direct was formed in 1995 and is based in Charlotte, North Carolina.

Buy $490M

Seller(S) 2

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 134 of 138
Sector (E-Commerce) 2 of 2
Type (Add-on Acquisition) 40 of 40
State (Washington) 4 of 4
Country (United States) 84 of 84
Year (2022) 3 of 4
Size (of disclosed) 36 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-03 Kantar XTEL

London, United Kingdom

Kantar XTEL is a provider of trade promotion management and optimization software and services to the consumer-packaged goods (CPG) industry. Kantar XTEL is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-29 Evident

Shinjuku-ku, Japan

Evident is a manufacturer of microscopes for life science and industrial applications, videoscopes for remote visual inspection and non-destructive test equipment. Evident is based in Shinjuku-ku, Japan.

Buy -
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

website


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 108 of 108
Sector (E-Commerce) 1 of 1
Type (Add-on Acquisition) 36 of 36
State (Washington) 2 of 2
Country (United States) 77 of 77
Year (2022) 4 of 4
Size (of disclosed) 24 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 Clear Group

London, United Kingdom

Clear Group is an independent insurance broker with over 30,000 clients and handling over £100m of premiums. It is focused on the UK corporate and SME market and has strong expertise in niche insurance verticals including property and construction. Clear Group was formed in 2006 and is based in London.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-14 Kahoot!

Oslo, Norway

Kahoot! is a game-based learning platform that makes it easy to create, share and play fun learning games or trivia quizzes in minutes. Kahoot! is used in a variety of settings – in K-12 and university classrooms, corporate offices, social settings, and major sporting and cultural events. Kahoot! AS was founded in 2012 and is based in Oslo, Norway.

Buy Nkr17.2B